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U.S. inflation data will be in focus this week with the Federal Reserve having already flagged four interest rate hikes this year. The Fed’s preferred inflation measure; the core PCE price index is due on Friday.

The rupee settled at 68.01 to a dollar, its lowest since May 24, and against 67.62 at previous close. The currency fell to day's low of 68.03 but trimmed some losses after state-run banks and a private lender sold dollars,

Gold moved lower overnight on friday, opening the day at 1297.25/1298.25. After the open, gold tumbled to its lowest level this calendar year at 1275.00/1276.00 amidst a sharp selloff as the dollar hovered near its 7-month high.

The diverging monetary policy outlook between the Federal Reserve and the European Central Bank is likely to boost the dollar and weigh on the euro in the coming week, by making the dollar more attractive to yield-seeking investors.

EURUSD (1.1749) • EUR is weak, down 0.6% from Thursday’s close fading a portion of its recent rally while still ending the week with a 0.7% gain. Germany’s trade and current account figures were in line with expectations however the industrial production

The rupee ended lower at 67.50 to a dollar, the biggest single-session decline since May 29, against 67.12 at previous close. Intraday, it fell to 67.78 but dollar sales by at least one large private lender and a handful of state-run lenders,

Policy meetings by the Federal Reserve and the European Central Bank are set to dominate the economic calendar in the coming week, with the U.S. central bank widely expected to raise interest rates, in what would be its second hike this year.